IMO most L&D functions need to be better aligned to the CBIs – the Critical Business Issues of their Enterprises. That will require better alignment with their Enterprise Leadership.
Then most L&D functions will need quicker, more effective and more efficient ISD/LXD methods to produce Worthy Instruction.
Do you need to rebound? How will you rebound?
How will you measure your success? The measures should be determined upfront, during the project planning efforts, and perhaps refined during the analysis efforts.